On 8/11/2015 2:23 PM, Adam Back via bitcoin-dev wrote:
I dont think Bitcoin being cheaper is the main characteristic of
Bitcoin. I think the interesting thing is trustlessness - being able
to transact without relying on third parties.
That rules out Lightning Network.
Lightning relies on third parties all over the place. Many things must
be done right, and on-time by N intermediate third parties (subject to
business pressures and regulation) or your payment will not work.
Lightning hubs can't steal your money. Yay! But banks stealing your
payment money is not a problem with today's payment systems. Some real
problems with those systems are:
- Limited ACCESS to payment systems
- High FEES
- Transaction AMOUNT restrictions
- FRAUD due to weak technology
- CURRENCY conversions
Plain old bitcoin solves all of these problems.
Bitcoin does have challenges. THROUGHPUT and TIME-TO-RELIABILITY are
critical ones. DECENTRALIZATION and PRIVACY must not be degraded.
These challenges can be met and exceeded.
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